Amazon's new payment rules are about to take effect, and sellers who do not comply may not get paid...

Yien.com learned that Amazon issued an announcement yesterday titled "Please check your payment service provider before May 31, 2021". The content of the announcement is as follows↓

If you are an Amazon seller who uses a payment service provider ( PSP) to receive proceeds from your Amazon store sales, you must use a PSP that participates in the program.

After May 31, 2021, if sellers continue to receive payments using an account provided by a payment provider that is not participating in the program, your funds hold period will be extended to up to 21 days after the estimated delivery date.

If you use a bank account issued by a bank that accepts deposits or a participating PSP, no action is required.

In addition, Amazon also mentioned in the announcement that starting from July 15, 2021, Amazon will stop paying sellers who use payment service providers that are not participating in this plan.

The message conveyed by this announcement to sellers is that if sellers do not use the payment service providers specified by Amazon to receive payments, they will not be able to get the account funds on schedule. If sellers have not used the payment service providers specified by Amazon to receive payments after July 15, Amazon will not pay the sellers.

Although Amazon has issued such an announcement before, it mentioned it again yesterday. It can be seen that Amazon attaches great importance to this policy. Amazon sellers should also pay attention!

When Amazon launched this program in February, only a few payment service providers participated in the program. However, more than three months later, more service providers have participated in the program, and most of them are Chinese companies.

The payment service providers that have currently participated in this program include: Wanlihui, Skyee, Payoneer, AirWallex, PingPong, Lianlian Pay, Amazon Global Payments, NetEase Payment, Onerway, iPaylinks, OFX Global Currency Account and Zhejiang Chouzhou Commercial Bank.

Seeing these well-known payment service providers appear on Amazon’s official website, I can’t help but sigh that the Chinese are really awesome!

Of course, Amazon sellers are not only Chinese, but also a large number of Americans. In the comment section below this announcement, an American seller said: "While I appreciate the efforts to ensure the security of the account, this seems to be an inadequate solution. It doesn't sound too safe to put my money in the hands of a Chinese payment service provider..."

Another American seller said: "I don't want my money to have to go through a Chinese service provider before it can go into my American bank account."

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New regulations

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